“Comcast Corp. is planning to walk away from its proposed $45 billion takeover of Time Warner Cable Inc., people with knowledge of the matter said, after regulators planned to oppose the deal,” Alex Sherman reports for Bloomberg. “Comcast is planning to make a final decision on its plans Thursday, and an announcement on the deal’s fate may come as soon as Friday, said one of the people, who asked not to be named discussing private information.”
“This week, U.S. Federal Communications Commission staff joined lawyers at the Justice Department in opposing the planned transaction,” Sherman reports. “The last time the FCC staff proposed sending a merger to a hearing was over AT&T Inc.’s bid to buy T-Mobile USA Inc. in 2011, prompting the companies to drop the deal.”
Read more in the full article here.
MacDailyNews Take: Good.
As we wrote on Monday: “The U.S. needs more competition in the broadband Internet and cable television markets, not less.”
[Thanks to MacDailyNews Reader “Bill” for the heads up.]
U.S. DOJ likely to block Comcast’s bid to buy Time Warner Cable – April 20, 2015